After a quiet phase in the market, the IPO season is picking up momentum. Starting from November 4, four major IPOs are set to launch on Dalal Street, including the highly anticipated Swiggy IPO from the mainboard segment. Additionally, there will be one IPO from the SME segment.
Despite a bearish trend in Dalal Street in October, IPOs have managed to maintain investor interest. In October, six major IPOs, including Hyundai Motor India’s mega issue, successfully raised Rs 38,700 crore. November appears to be on a similar track, with Swiggy’s IPO poised to become the second largest of the year, anticipated to make a strong start to Samvat 2081. In the first week of Samvat 2081, four companies aim to raise a total of Rs 18,534 crore through public issues.
1. Sagility India IPO
- Open Date: November 5, 2024
- Close Date: November 7, 2024
- Issue Size: Rs 2,107 crore
- Price Band: Rs 28-30 per share
- Details: Sagility India, a healthcare-focused services provider, will open the IPO with an offer-for-sale of 70.2 crore shares by the promoter, Netherlands-based Sagility BV. Ahead of the IPO, the promoter raised Rs 366 crore by selling a 2.61% stake to nine institutional investors.
2. Swiggy IPO
- Open Date: November 6, 2024
- Close Date: November 8, 2024
- Issue Size: Rs 11,327 crore
- Price Band: Rs 371-390 per share
- Details: Swiggy’s IPO includes a fresh issue of Rs 4,499 crore and an offer-for-sale worth Rs 6,828.4 crore. Once listed, Swiggy will be the second food delivery company on the market after Zomato.
3. ACME Solar Holdings IPO
- Open Date: November 6, 2024
- Close Date: November 8, 2024
- Issue Size: Rs 2,900 crore
- Price Band: Rs 275-289 per share
- Details: ACME Solar, a prominent renewable energy producer, is launching an IPO consisting of a fresh issue of Rs 2,395 crore and an offer-for-sale of Rs 505 crore by promoter ACME Cleantech Solutions.
4. Niva Bupa Health Insurance IPO
- Open Date: November 7, 2024
- Close Date: November 11, 2024
- Issue Size: Rs 2,200 crore
- Details: The Niva Bupa IPO includes a fresh issue of Rs 800 crore and an offer-for-sale of Rs 1,400 crore by promoters Bupa Singapore Holdings Pte and True North’s Fettle Tone LLP. This will make Niva Bupa the fourth health insurance company to be listed, following Star Health, ICICI Lombard, and The New India Assurance.
5. Neelam Linens and Garments IPO (SME Segment)
- Open Date: November 8, 2024
- Close Date: November 12, 2024
- Issue Size: Rs 13 crore
- Price Band: Rs 20-24 per share
- Details: Neelam Linens and Garments, a soft home furnishing company, is the sole SME IPO this week, aimed at raising Rs 13 crore.
Listing Next Week
- Company: Afcons Infrastructure (Shapoorji Pallonji Group)
- Listing Date: November 4, 2024
- Issue Price: Rs 463 per share
- Expected Performance: Experts predict a flat to slightly negative opening due to lower-than-expected subscription levels (2.63 times) for its Rs 5,430 crore IPO.
This week promises substantial action in the primary market with these IPOs, presenting opportunities for both retail and institutional investors.
